LONDON, 11 April, 2014 — Sub-investment grade corporate credit specialist Alcentra Limited (“Alcentra”), part of BNY Mellon, has invested in Groupe Looping, a leading European regional attraction park operator with a nine park portfolio headquartered in France. The investment will be used to support the acquisition by H.I.G. Capital France and Management of 100% ownership of the company and provide a new capital structure allowing for the implementation of a further development strategy. The funding takes the form of a unitranche investment and has been provided by funds managed by Alcentra with Bpifrance co-investing in the transaction.
The transaction is consistent with Alcentra’s investment strategy based on lending to attractive European mid-market companies that are experiencing less traditional banking support and to whom Alcentra aims to lend at attractive risk-adjusted returns whilst benefitting from strong downside protection.
The deal follows recent investments in CorpAcq, Mountain Warehouse, Busy Bees, Cambridge Education, Caffè Nero, Chesapeake Plastic Packaging and is another example of Alcentra’s commitment to a European direct lending strategy.
Alcentra has been sourcing and arranging financing to middle market businesses since its launch in 2003.To date Alcentra has invested over €1.8bn in more than 85 middle market transactions across senior debt, unitranche, second lien, mezzanine and equity co-investments. Looping represents the 13th investment executed by Alcentra as part of its Direct Lending strategy initiated in 2013.
Alcentra is an asset management and investment group focused on sub-investment grade debt capital markets in Europe and the United States. The group has an investment track record that dates back to 1998 and spans across 48 separate investment funds totalling approximately $23 billion1. Alcentra is 100 percent owned by BNY Mellon. Except where otherwise stated, 'Alcentra' refers to both Alcentra Limited and Alcentra NY, LLC. Assets under management include assets managed by both companies. More information can be found at www.alcentra.com.
1Assets under management reflect assets of all accounts and portions of accounts managed by the Alcentra High Yield Divisions portfolio managers for Alcentra and its affiliates. Specifically, certain assets under management reflect assets managed by Alcentra personnel as employees of Standish, BNY Mellon and/or Dreyfus under a dual employee agreement.
BNY Mellon Investment Management is one of the world's leading investment management organizations and one of the top U.S. wealth managers, with $1.6 trillion in assets under management as at 31 December 2013. It encompasses BNY Mellon's affiliated investment management firms, wealth management services and global distribution companies. More information can be found at www.bnymellon.com
BNY Mellon is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle. Whether providing financial services for institutions, corporations or individual investors, BNY Mellon delivers informed investment management and investment services in 35 countries and more than 100 markets. As of December 31, 2013, BNY Mellon had $27.6 trillion in assets under custody and/or administration, and $1.6 trillion in assets under management. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available on www.bnymellon.com, or follow us on Twitter @BNYMellon.
All information source BNY Mellon as of December 31, 2013. This press release is qualified for issuance in the UK only and is for information purposes only. It does not constitute an offer or solicitation of securities or investment services or an endorsement thereof in any jurisdiction or in any circumstance in which such offer or solicitation is unlawful or not authorized. Any views and opinions contained in this document are those of the author as at the date of issue; are subject to change and should not be taken as investment advice. BNYM IM EMEA and its affiliates are not responsible for any subsequent investment advice given based on the information supplied. Tax treatment will depend on the individual circumstances of clients and may be subject to change in the future. This press release is issued by BNY Mellon Investment Management EMEA Limited (ex-US) to members of the financial press and media and the information contained herein should not be construed as investment advice. Registered office of BNY Mellon Investment Management EMEA Limited: BNY Mellon Centre, 160 Queen Victoria Street, London, EC4V 4LA. Registered in England no. 1118580. Authorized and regulated by the Financial Conduct Authority. A BNY Mellon Company.